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Published on: July 18, 2023

Category: What is the Lifestyle of the Average Millionaire?Lifestyle
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What is the Lifestyle of the Average Millionaire?
What is the Lifestyle of the Average Millionaire?

What is the Lifestyle of the Average Millionaire?



Most Millionaires live the Simple Life

Did you know that your next door neighbor could be a millionaire, and you would never know it?

Living a middle-class lifestyle as a millionaire is very common.

This is because they understand the value of financial responsibility and living within their means. By adopting a middle-class lifestyle, they are able to prioritize saving and investing their wealth, which is exactly the reason they are millionaires.


What is the Lifestyle of the Average Millionaire?
This is the type of house your average millionaire would own.
It is very nice, but nothing fancy. Not what you'd expect.

Millionaire lavish lifestyle is often a myth

Contrary to popular belief, the stereotype of millionaires living extravagant lifestyles with huge mansions, yachts, and luxury cars is not the reality for most wealthy individuals.

Most millionaires prefer to be discreet about their wealth. The lavish lifestyles often associated with millionaires are more commonly seen among those who are actually struggling financially.

Also, the lavish lifestyles could be seen among the extremely wealthy sometimes, but not as often as you may think.


What is the Lifestyle of the Average Millionaire?

According to Forbes, Warren Buffett's net worth in July 2023 is $114.1 billion. He is currently the 6th richest person in the world.

About a year ago, I watched a video about Mr. Buffett, and his lifestyle. He does not live the lifestyle most people would expect. If he were your next door neightbor, you would definitely not feel intimidated.

However, something else in this video struck me as very interesting. One evening, he sent his daughter to the grocery store to get something for him. He gave her $20. When she returned with his merchandise, he asked her for the change. Very interesting!

Warren Buffett with Fisher College of Business Student - Image courtesy of Creative Commons.


I occasionally do business with an entrepreneur with a net worth of $20 million. A few months ago, we were having a casual conversation. I discovered that he purchases most of his clothes, such as, jeans and casual wear, at the local Thrift Store.

TV Milionaires are just that

Remember some of the night time soap operas from the old days. Some of them were, Dynasty, Dallas and Falcon Crest.

There are also many TV shows today that portray the millionaire lifestyle that is more in line with what people would expect.

The fact remains, this is TV, and not the real world. TV millionaires portray how middle class people would conduct themselves, if they were to suddenly come into a windfall of, say, $1 million.

Millionaires don't come apart at the seams when there is a petty problem. This is the way TV portrays millionaires, and this is not the way it is.

The typical millionaire would just say, "I'll let my attorney handle it, and just forget it."

Face it! If you're where they are, who do you have to impress?


What is the Lifestyle of the Average Millionaire?
Blake, Alexis and Crystal - Scene from Dynasty

Conclusion

As you can see, people who are millionaires typically live the lifestyle that is in correlation to what got them where they are in the first place.

I hope you found this article interesting.

AND:

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